Special Report: Azerbaijan - Fuelling Expansion - Living off the fat of the land.

Byline: Nick Kochan

A remote corner of the former Soviet Union, famed for its oil, celebrated by the Russian communist regime for its wine, is about to be the toast of the Euromarkets. Azerbaijan is issuing a Eurobond in the autumn to announce to the world that its economy is powering ahead, and the markets should stand up and take notice. In the wake of the sovereign issue, markets will also be introduced to Azerbaijan's banks, the larger of which are planning bond issues over the next year.

Markets will learn for the first time that this little known coun